Stock Market Drops
51Today it was announced that Dow Jones industrial average has lost more than 400 points this week. According to NASDAQ composite index fell by 5 percent and the Standard & Poor's five hundred directory lost 3.5 percent.
The Federal Reserve Bank cut rates by three-quarters of a percentage point to 3.5 percent, citing the weakening economic outlook. The shift came in advance of the central bank's frequently planned meeting.
Along with any stock the financial stocks are expected to get one more slap following Bank of America and Wachovia which have both posted miserable stock consequences due to the mortgage and credit clutter.
Bank of America's net income fell by around 95 percent to approximately $268 million in their Q4 as the company took $5.3 billion in record related to composite liability tools.
- Europe debt crisis, jobs numbers to drive stocks
Memorial Day may mark the unofficial start to summer, but investors won't be getting any rest and relaxation during the coming week. - 6 hours ago
- Facebook IPO: Outraged investor cries grow louder
As Wall Street's losses mount, it's the smaller investors who want Facebook to 'show them the money!' - 6 hours ago
- Spain's banking crisis threatens Europe
The Spanish banking system has taken center stage in the ongoing European debt crisis drama. - 46 hours ago
- Stocks snap three-week losing streak
U.S. stocks fell Friday, but ended higher for the week, as concerns about the debt crisis in Europe weighed on the market ahead of a long weekend. - 45 hours ago
- Robots lose $20 million on Facebook IPO
Citigroup's automated trading desk reportedly lost $20 million on the Facebook IPO - 46 hours ago
- Euro's parachute drop has no end
Worries about Greece needing to leave the eurozone and bring back its drachma currency have been the main spark for the euro's recent slide. - 2 days ago
- Best of StockTwits: The not-so great $GOOG-a Mooga?
Facebook continued to slide one week after its IPOuch. But rival Google is also down Friday. Is there trouble ahead? - 47 hours ago
- Stupid stock move of the day: Chesapeake up?
Chesapeake Energy is trading higher on speculation that Carl Icahn may take a stake. But even if he does, that doesn't solve the company's problems, - 2 days ago
- Euro Zone May Be Unprepared For Greek Exit: Belgian Official
"There is no organized discussion at the European level along the lines of: what do we do (if Greece leaves)," Belgium's foreign minister said, rattling nervous markets. - 3 hours ago
- How Weinstein, Hedge Funds Outsmarted JPMorgan
- 12 hours ago
- How Nasdaq Lost Control of Facebook IPO, by the Minute
- 24 hours ago
- Week Ahead: Europe Has Wall Street Bull on Short Leash
- 45 hours ago
- Citigroup Lost $20 Million on Facebook IPO Trades
- 47 hours ago
- JPMorgan to Shake Up Risk Team After Big Loss: Report
- 42 hours ago
- RIM May Cut at Least 2,000 Jobs in Restructuring: Report
- 21 hours ago
- EU Finalizes Bank Reforms; Shifts Burden to Bondholders
- 35 hours ago
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All of this of course is in response to a panic over the fact that the US is either about to enter a recession or it is already in one which was sparked by the subprime loan crisis. But aside from the markets, how vulnerable is the rest of the world to this coming economic crisis in the US.
Ralph Deeds Level 6 Commenter 4 years ago
The Fed's .75 point cut in the Fed Funds rate announced this morning, sooner than expected, is an indication that the Fed is quite concerned about where the U.S. and world economy may be heading. I don't think we've heard all the bad news yet, but who knows?